Norden Group LLC Has $4.52 Million Position in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Norden Group LLC increased its stake in Lam Research Corporation by 4.5%, owning 62,149 shares valued at approximately $4.52 million.
• Institutional investors control 84.61% of Lam Research's stock, with multiple hedge funds acquiring new positions recently.
• Analysts maintain a Moderate Buy consensus for Lam Research, with an average price target of $100.57 after several upgrades from key firms.

Norden Group LLC boosted its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 4.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,149 shares of the semiconductor company's stock after acquiring an additional 2,652 shares during the period. Norden Group LLC's holdings in Lam Research were worth $4,518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LRCX. Smallwood Wealth Investment Management LLC acquired a new position in shares of Lam Research in the first quarter valued at $26,000. West Paces Advisors Inc. acquired a new stake in Lam Research during the fourth quarter worth approximately $27,000. Mpwm Advisory Solutions LLC acquired a new stake in Lam Research during the fourth quarter worth approximately $27,000. Park Square Financial Group LLC bought a new stake in shares of Lam Research during the fourth quarter worth approximately $31,000. Finally, Putney Financial Group LLC acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Down 0.8%

Shares of NASDAQ LRCX opened at $96.96 on Monday. The company has a market cap of $124.02 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.37 and a beta of 1.68. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $102.59. The stock has a 50-day moving average price of $92.49 and a two-hundred day moving average price of $81.68.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is 25.63%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LRCX shares. Morgan Stanley lifted their price target on Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Evercore ISI increased their price objective on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Oppenheimer reissued an "outperform" rating and issued a $110.00 target price (up previously from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. B. Riley reaffirmed a "buy" rating and set a $115.00 price target (up from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Finally, TD Securities dropped their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $100.57.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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